2022-12-31-accounts - Newbold College

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	Page
Governors	1
Reference andadministrativedetails ofthe charityandadvisers	2
Governors' report	3-7
lndependentauditor's report	8-10
Statement offinancial activities	11
Balancesheet	12
Statementofcashflows	13
Notestothefinancial statements	14-27

06/06/2023

		Unrestrlcted Funds	2022 RestrlctedEndoment Funds Funds	2022 RestrlctedEndoment Funds Funds	Tolâl Funds	lJnresldcted Funds	2021 RestrictedEndoment Funds Funds	2021 RestrictedEndoment Funds Funds	Total Funds
	Notes
		E	E	Ê	e	E	Ê	â	E
lncomeånd Expend¡ture
lncomeãndendowntaFom
Donations and legacies Charitableact¡v¡ties lnvestments		1,602,414 1.739,700 936	26,334 753 271-		1,628,752 1,740,453 1,207	1,678,31 5 1,473,762 7	45,004 25		1,723,319 1,473,762 32
Other inæme						49,996			49,996
		3.343.054	2735A	-	3,370,412	3,202,080	45,O29		3,247,109
Expendlturu on:
Raisingfunds Chariiãble activ¡ties Govemance		11,236 3,025,283 34,782	820,200	98,465	11,236 3,943,948 34,742	8,724 2,932,997 20,174	89,337	97,975	8,724 3,120,309 20,174
TotalResourcesExpended	11	3,071,30'1	820,200	98,4653,989,966		2 S61895	89,337	97c75	3'149207
Net lncamingr(outgo¡ng)Resourcea		271,753	(792,842J(98,465)(619,554)			240,185	(44,308)	(97,975)	97,902
Transfers belween funds		(46,79r)	113,429	(66,638)		(2,076,342\|2,156,974	(80,632)
		224,962	(679,413)(165,103)(619,554)			(1,836,157)2112,666		(178,607)97,902
Reconclllatlonoffunds
Fund balances brought foMard at 01 Jânuâry		5,621,440	3,496,227	2,8/'6,794	11,964,461	7,457,5961,383,5623,025,40111,866,559
Fund bâlanceseÍiedforuard at 31 December		*::^"j-*_	"j1ï3____	r¡llryr	:l:!!eo7_	____3€41.43e_	__3.4.2n____?u6le4_		_l_L991,19L

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30 May
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	2022	2021
	I	s
Cashflows from operating activities
Net (Expenditure)/ income for theyear	(61e,554)	97,902
Adjustments for:
Depreciationoftangiblefixedassets lnterest received	318,393 (1,207\|262,207 (32)
Ghanges inworking capital: lncreaseindebtors	(184,836)	(363,34e)
lncreaseincreditors	773,183	88,515
lncreaseinstocks	(e,820)	(1,7e1)
Net cashgeneratedbyoperating activities	276 159	83,452
Cashflows from investing activities Purchase of lnvestments	(271)	(24)
Purchase of fixed assets	(1e5,783)	(85,536)
lnterest received	1,207	32
Net used in investing activities	(1e4,847)	(85,528)
Changeincash and cash equivalentsinthe year	81,312	(2,076)
Cash and cash equivalents at beginningofyear	510,247	512,323
	591,559	510,247

lncomefrom donationsand legacies
	Unrestricted	Restricted	Endowment	Total
	Funds t	Funds â	Funds €	2022 t
2022
Operating grantsfromparentorganisation	750,000			750,000
Specialgrantsfromparentorganisation	828 741			828741
	1,578,741			1,578,741
Donations	23,677	26,334		50,011
	1,602,418	_26,3U		1,628,752
	Unrestricted	Restricted	Endowment	Total
	Funds	Funds	Funds	2021
	t	I	t	r
2021
Operating grantsfromparent organisation	630,000			630,000
Specialgrantsfromparentorganisation	960,894			960,894
	1,590,894			1,590,894
Donations	87,421	5,004		92,425
Legacies		40,000		40,000
	j,6?q,315_	__!t,004_	______-	__1_J233ß_

lncomefromcharitable activities
	Unrestricted	Restricted	Endowment	Total
	Funds	Funds	Funds	2022
	t	Ê	Ê		Ê
2022
Tuition lncome	508,680			508,680
Accommodation andLodging lncome	2,159				2,159
Rentallncome	't,052,108			I,052,1 08
Departmentallncome	98,487				98,487
Otherlncome	78,266	753			79,0'19
	1,739,700	753		1,	740,453
	Unrestricted	Restricted	Endowment	Total
	Funds	Funds	Funds	2021
	â	€	Ê		â
2021
Tuition lncome	575,358				575,358
Accommodation andLodging lncome					0
Rentallncome	785,592				785,592
Departmentallncome	3,534				3,534
Otherlncome	109,278				109,278
	1,473,762		-	1,473,762

4	Details of Grant andFeeIncome
				2022 f	2021 I
	Fee lncome for taught awards(exclusiveofVAT)			498,360	572,958
	Fee lncome for from non-qualifying courses(exclusiveofVAT)			10,320	2,400
	Total Grant and fees			508,680	5?5J58
5	lncomefrom Investments
		Unrestricted	Restricted	Endowment	Total
	2022	Funds	Funds	Funds	2022
		€	Ê	€	Ê
	Bank lnterest	936	271		1,207
		Unrestricted	Restricted	Endowment	Total
	2021	Funds f	Funds f	Funds â	2021 €
	Bank lnterest	7	25		32
6	Governmentgrants
		Unrestricted	Restricted	Endowment	Total
	2022	Funds f	Funds Ê	Funds Ê	2022 I
	Coronavirus Job Retention Scheme
		Unrestricted	Restricted	Endowment	Total
	2021	Funds I	Funds Ê	Funds Ê	202',1 r
	Coronavirus Job Retention Scheme	49,996			49,996

Expenditure	Unrestricted Funds €	Total 2022 f	Unrestricted Funds Ê	Total 2021 €
Advertis¡ng	9,926	9,926	8,724	8,724
Recruitment	1,3'r0	I ,310
	11,236	11,236	8'724	8,724

8	Expenditure on charilableactivities Academic Services €	Property Maintenânce e	Support Cost t	Total 2022 e	Acedemic servlces e	Property Maintenance t	Support Cost e	Total 2021 e
	Salaries Social Security Retirement cost Redundency cost Otherpersonelexpense Direct costs ,312,706 145,828 '164,096 64,453 (37,664)			1,312,706 145,828 164,096 64,453 (37,664)	1,318,753 '133,113 218,384 '127,720 42,444 162,111			I,318,753 133,1 13 218,384 127,720 42,444 162,1'l'l
	Administration Exchange loss Buildings office Departmental Schorlaship expenses Depreciation 39,554	320,013 1,447,593	'168,436 139 273,276 45,518	168,436 139 1,447,593 273,276 39,554 45,518 320,013	22,559	400p42 318,986	426 26,339 202,884_ 45,648	126,339 426 400,942 202,884 22,559 45,648 318,986
	1.688.973 1.767.606487,369			3,943,948	2,O25,084	719.928	375,297	3,120,309
			Total	Total
	Analysisbyfund:		2022 e	2021 t
	Unrestricted funds Restr¡cted funds Endowmentfunds		3,025,283 820,200 98,465	2,932,997 89,337 97,975
			__9Éi9,e1!- ----1J?9¡99-
9	Otherèxpenditure UnrestÌlcted Funds t	Restrlcted Funds Ê	Endowment Funds Ê	Total 2022 e	Unrestricted Funds Ê	Restricted Funds €e	Endowment Funds	Total 2021 c
	Govemance costs(seenote10)34,782			34,782	20,174			20,174

Analysisofgovernanceandsupport costs
	General	Governance	Total	Total
	Support		2022 I	2021 €
BoardExpenditure		'o,ræ	4,782	174
Audit	-	30,000	30,000	20,000
Exchangeloss	139		139	426
BaddebtsExpenses Professionalfees	8,879 131,328		8,879 131,328	21,683 92,528
lnterestExpense Other AdministrativeExpenses	4,897 20,737		4,897 20,737	3,271 8,856
Office Supplies &lTexpense Telephone andPostage EquipmentMaintenance	25,223 12,028 236,025		25,223 12,028 236,025	42,934 14,322 145,627
ScholarshipExpenses	45,518		45,518	45,648
	484,774	34,782	519,556	395,469

TotalResources Expended
Summary byexpenditure type	Staff	Other		Total	Total
	Costs Ê	Costs I	Depreciation Ê	2022 I	2021 €
Charitable activities	1,622,630	2,002,925	318,393	s,943,948	3,120,309
Costs ofgeneratingvoluntary
income		11,236		11,236	8,724
Governance costs		34,782		34,782	20,174
	1,622,6302,047,323		320,013	3,989,966	3,149,207
Summarybyfund type	Unrestricted	Restricted	Endowment	Total
	Funds	Funds	Funds	2022
2022	e	e	f	t
Charitable activities	3,025,283	820,200	98,465	3,943,948
Costs ofgeneratingvoluntary
income	11,236			11,236
Governance costs	34,782			34,782
	3,071,301820,200		98,465	s,989,966

Total Resources Expended (continued) lncludedwithin total expenditure:
	2022	202',1
	I	Ê
Auditors' remuneration	30,000	20,000
Depreciationoftangible fixed assets	318,393	318,986
Analysis of costs
Staff costs consistof:	2022	2021
	€	Ê
Salaries	1,3'12,706	1,3'18,753
Social security costs	',l45,828	133,113
Pension costs	164,096	218,384
Redundancy costs		127,720
	1,622,630	1,797p70
Headof Provider1	2022	2021
Headofprovider(Apr-Dec 2O22)currenl
Remuneration	40,730
Pension	9,808
Other	'l,517
	52,055
Headof Provider2
Headofprovider(Jan-May 2022)
Remuneration	27,366	52,541
Retirement Allowance	12,613
Pension	2,565	7,095
	42,544	59,636

Short-term ¡nvestments:
	2022	2021
	Ê	Ê
Marketvalueasat1January	243,945	243,921
lnterest re-invested	271	24
Marketvalueat31 December	244,2',16	243,945
lnvestments consist of the following:	Ê	Ê
Banktermdepos¡tsin excessofthree months	244,216	243,945

TangibleFixedAssets
	Functional		Other
	Landand	Land and		Fixturesand
	Buildings c	Buildings I		Equipment €	Total €
Cost
At31December2021	4,447,819		2,672,943	2,281,280	9,402,O42
Additions	46,367			149,416	195,783
At31December2O22	4,494,186 @				-@
Depreciation				-41-0F06
At31December2O2l	1,843,704		795,918	1,051,856	3,691,478
Chargefortheperiod	98,465		79,830	140,098	318,393
At31December2022	1,942,169		875748	1,191,9544,009,871
NetBook Value At31December2O22	2,552,017		1,797,195	1,238,7425,587,954
At31December2021	2,604j15		1,877,025	1,229,4245,710.564

15	Debtors
		2022	2021
		Ê	â
	Amountsduewithinoneyear:
	Trade debtors	64,322	66,179
	Amounts due fromparentcharity	6,123,684	5,955,281
	Amounts due from other related charities	65,813	69,401
	Amounts due from employees	2,120	3,865
	Prepaidexpenses	116,262	104,802
	Otherdebtors	35,989	23,826
		6,408,190	6,223,354
l6	Greditors
		2022	2021
		€	€
	Amountsfallingduewithinoneyear:
	Trade creditors	48,649	50,498
	Paymentsinadvancebystudents	178,820	141,065
	Amounts due toparentcharity	87,994
	Amounts due to other related entities	7,755	76,860
	Amounts duetoemployees		5,725
	Othertaxes and social security costs	44,214	1,798
	Accrued expenses and deferred income	73,839	319,299
	Other amountspayable	132,766	67,509
	Agencyandtrust funds	63.081	73,681
		637,118	736,435

rovisionsforliabiliti	es
			2022	2021
Moore Close section	106	agreement	700,000
Rates			172,500
			872,500

	length of time the tenant has be	en inplace, howe	vernofinal figure has been agreedatthisstag	vernofinal figure has been agreedatthisstag	vernofinal figure has been agreedatthisstag	vernofinal figure has been agreedatthisstag	e.
18	Fundsanalysis	Balance at 1January 2022 Ê	MovementinResources Incoming OutgoingTransfers ÊÊÊ				Balanceat 3lDecember 2022 â
	Endowmentfunds
	Scholarship endowment funds	242,679			(113,005)		129,674
	Property endowment funds	2,604,115		(e8,465)		46,367	2,552,017
	Total endowment funds	w		(e8,465)		(66,638)	2,681,691
	Restrictedfunds
	Scholarship	843,072	22,200	(42,602)		149,673	972,343
	Facilities	149,277		(29,436)		287,855	407,696
	Health programmes	36,337				(36,337)
	Other Restricted Funds	2,467,541	5,158	(748,162)	(287,762)		1,436,775
	Total restricted funds Unrestricted funds	w	27,358 -	(8-20-2õÐ	-@		2,816,814
	Designated funds
	Property funds:
	Land & buildings	1,877,025		(79,830)			1,797,195
	Plant&Equipment	1,229,424		(140,098)		149,416	1,238,742
	Other designated funds	124,883	(13e)			139	124,883
		3,231,332				149,5553,160,820
	General funds General funds	2,390,108	3,343,193(2,851,373)			(196,346)2,685,582
		2,390,108	3,343,193	esil,373)		(1e6,346)2,685,582
	Total unrestricted funds Totalfunds	5,621,440 11,964,461	3,343,054 -]mrcõ1T--lÆfrg.T@ 3,370,412(3,989,966)

Analysis ofnetassets between	funds
	Unrest¡icted	Restricted	Endowment	Total
	funds	funds	funds	funds
	2022 f	2022 €	2022 t	2022 €
Tangible fixed assets	3,035,937		2,552,017	5,587,954
Current assets	4,320,083	2,816,814_	129,674	7,266,571
Creditors due within one year	(637,1r8)			(637,118)
Provisions for liabilities	(872,500)			(872,500)
	@	-ñT	2,681,691	11,344,907
	Unrestricted	Restricted	Endowment	Total
	funds	funds	funds	funds
	202'l €	2021 Ê	2021 f	2021 I
Tangible fixed assets	3,I 06,449		2,604,115	5,710,564
Current assets	3,251,426	3,496,227	242,679	6,990,332
Creditors due within one year	(736,435)			(736,435)
	@	3,496,227	2,846,794	1

connected entities as describe in N	otes22and23.
	General	BritishUnion	Total	Total
	Conference	ce	2022	2021
	Ê	Ê	Ê	Ê
Operating grants received	750,000		750,000	630,000
Special grants received	828,741		828,741	960,894
Amounts duebycharity<1year
Amounts due to charity<1year	6,123,684	65.813	6,158,642	6,011 732